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Overview
AfrOil has always been at the forefront of news and analysis on political change in Africa. Leading commentaries in recent years have covered the Arab Spring in North Africa, the splitting of Sudan, and regional political divides in Nigeria and other countries. AfrOil not only provides analysis of what is happening on the political landscape, but gives insights in to what effects this may have on the oil & gas industry in these regions.
AfrOil highlights company activity throughout Africa, from planning and investment to production and results. Through its coverage of new projects and developments, as well as contracts or tenders being announced and won, AfrOil has allowed our customers to keep ahead of their competition and look for new opportunities across the continent.
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Ghanaian petroleum marketer GOIL defies revenue slump to lift profit and dividend
Ghanaian petroleum marketer GOIL PLC (GSE:GOIL) increased profit and raised its dividend for the first time in three years despite a decline in revenue.
Brazil’s Petrobras secures PSCs for eight exploration blocks offshore Côte d'Ivoire
Brazilian oil major Petrobras is expanding its presence in West Africa after moving ahead with production sharing contracts for eight offshore exploration blocks in Ivory Coast.
Nigeria's NNPCL sued over alleged $4.27mn rebranding costs
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL), seeking details of about NGN5.8bn ($4.27mn) allegedly spent on the incorporation, transition and rebrand
Chevron unit CABGOC awards Angola construction management contract to Dubai-based Kent
The award strengthens Kent's position in Angola's energy sector as the country seeks to sustain crude output of around 1.1mn bpd through continued investment in offshore oilfield operations and infrastructure.
Uganda unveils $22.75bn budget as oil production push drives growth
Uganda has unveiled an UGX84.4 trillion ($22.75bn) 2026/27 budget, projecting 10.2% economic growth driven by oil, infrastructure, agriculture and industrial expansion ahead of first commercial oil production later this year.
Egypt and Eni discuss gas output increase and Cronos field link-up
Egypt is currently discussing plans with Italian energy major Eni to increase natural gas production from the company's concession areas in the Mediterranean and the Nile Delta, as well as the Cronos field link-up
Eni secures 15 offshore blocks in Guinea as MSGBC Basin attracts fresh investment
Italian energy major Eni has secured reconnaissance permits for 15 offshore blocks in Guinea.
Egypt adds 12,000 barrels per day from two-week Western Desert investments
Egypt's petroleum sector has added nearly 12,000 barrels per day (bpd) of crude oil and condensates to Western Desert output over the past two weeks
Libya's oil revenues hit decade high in May on Hormuz crisis windfall
Libya's state-run energy utility, National Oil Corporation, registered its strongest monthly revenue performance in more than a decade in May 2026, as the Strait of Hormuz crisis pushed crude prices to elevated levels.
Nigerian industrial tech firm RusselSmith rebrands to Arridex reflecting shift from oil & gas sector roots
Nigerian industrial technology firm Arridex has rebranded from RusselSmith as it expands beyond its traditional oil and gas roots and accelerates its push into advanced manufacturing, autonomous systems and industrial technology.
Italian energy major Eni enters The Gambia with award of offshore deepwater Block A1
Italian energy major Eni and the government of The Gambia have signed a petroleum exploration, development and production licence agreement for the Block A1 offshore the Republic of The Gambia.
US 'disables' tanker in Gulf of Oman over Iran oil, CENTCOM says
The US says it has disabled a Guinea-Bissau-flagged tanker carrying Iranian oil in the Gulf of Oman, the third merchant vessel struck this week, US Central Command says.
Nigeria supports OPEC+ capacity review as alliance extends output framework
Nigeria has backed OPEC+’s decision to maintain its current oil production framework through 2026 while highlighting the importance of an ongoing review of members’ production capacities that will shape output quotas from 2027
Angola targets end to gas flaring by 2030, threatens penalties for non-compliance
Angola has pledged to eliminate routine gas flaring across its oil industry by 2030 and will impose financial penalties on operators that fail to meet the target, as the country seeks to curb methane emissions while maintaining crude production
Seplat Energy names Tony Elumelu chairman-designate in leadership reshuffle
Seplat Energy has appointed billionaire investor Tony Elumelu as chairman-designate from January 2027
Egypt seeks to buy 30 additional LNG cargoes for Q4 2026
The Egyptian Ministry of Petroleum and Mineral Resources is currently considering contracts to import nearly 30 additional cargoes of liquefied natural gas (LNG) for delivery during Q4 2026
Kuwait Petroleum to start gas production from Alexandria's West Mina field in Q4 2026
Kuwait Petroleum Corporation (KPC) announced it would invest in a major gas exploration project within the West Mina offshore area near the Egyptian coastal city of Alexandria,
Vaalco Energy resumes production at Côte d'Ivoire's Baobab oil field after FPSO overhaul
Production at the CI-40 block was suspended in January 2025 to allow a full overhaul of the FPSO Baobab Ivoirien at shipyards in Dubai.
Moody's completes periodic review of Nigerian independent oil and gas producer Seplat Energy
Seplat's current B2 rating reflects its position a leading upstream energy company, supported by a portfolio of long-dated oil and gas licences that provide visibility over future production and cash flow generation
Libya's NOC signs unified operating agreement for Murzuq Basin oil field
Libya's state-run energy utility, the National Oil Corporation (NOC), has signed a unified operating agreement for the I/R field within the concession areas NC 115 and NC 186 in the Murzuq Basin
US EIA predicts gaping deficit in oil supply for full year
Supply will fall 7mn bpd, and demand by only 1mn bpd.
QatarEnergy reports fourth oil discovery in prolific Orange Basin offshore Namibia
QatarEnergy has discovered oil in an offshore field in Namibia following the successful drilling of the Merlin-1X exploration well in Petroleum Exploration Licence 39 (PEL 39).
Rising oil prices could lift Ghana’s petroleum revenues to $1.5bn, minister says
Ghana expects petroleum revenues to surge to about $1.5bn in 2026, well above the $985mn projected in the national budget, according to Finance Minister Cassiel Ato Forson.
Nigeria’s NUPRC sets June 12 deadline for 2025 oil block bids
Nigeria’s 2025 Licensing Round offered 50 oil and gas blocks, comprising 15 onshore blocks, 19 shallow-water blocks, 15 frontier blocks and one deep-water block.
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